Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-1.63%
trims when stocks drop
when a holding falls −10%+
Middle response
-2.97%
baseline attrition
Rally response
-5.56%
trims into rallies
when a holding rises +10%+
Top positions · 4
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| CPACopa Holdings, S.A. | $54M | 39.6% | +29.6% | 1.8 yr |
| AVTAvnet, Inc. | $40M | 29.8% | +31.5% | 2.3 yr |
| ROPRoper Technologies, Inc. | $32M | 23.5% | -39.7% | 0.3 yr |
| MCHPMicrochip Technology Inc | $10M | 7.1% | +37.5% | 0.3 yr |
Portfolio composition (YoY)
Industry mix
Airlines, Airports & Air Services39.6%+13.4pp$54M
Technology Distributors29.8%-7.5pp$40M
Software - Application23.5%+4.2pp$32M
Semiconductors7.1%$10M
Country
US60.4%+23.2pp
PA39.6%+13.4pp
Top 5: 100.0% · Top 10: 100.0% · Top 25: 100.0%
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $136M | 4 | +19.58% | +17.59% | +1.99% | -0.09B |
| 2025-12-31 | $234M | 5 | +13.18% | +17.72% | -4.54% | +0.04B |
| 2025-09-30 | $186M | 4 | +3.71% | +17.52% | -13.81% | -0.04B |
| 2025-06-30 | $221M | 4 | +7.11% | +14.94% | -7.83% | +0.02B |
| 2025-03-31 | $167M | 4 | -7.29% | +8.30% | -15.59% | -0.02B |
| 2024-12-31 | $211M | 4 | +6.19% | +24.89% | -18.70% | -0.05B |
| 2024-09-30 | $279M | 5 | +17.52% | +36.04% | -18.52% | -0.05B |
| 2024-06-30 | $310M | 5 | +8.88% | +24.49% | -15.61% | +0.01B |
| 2024-03-31 | $283M | 4 | +16.68% | +29.62% | -12.95% | +0.05B |
| 2023-12-31 | $226M | 3 | +15.93% | +26.18% | -10.25% | -0.07B |
| 2023-09-30 | $282M | 6 | +10.94% | +21.57% | -10.62% | -0.04B |
| 2023-06-30 | $334M | 7 | +8.66% | +19.42% | -10.76% | -0.05B |
| 2023-03-31 | $347M | 9 | -37.70% | -7.82% | -29.88% | +0.02B |
| 2022-12-31 | $323M | 9 | -0.13% | +7.56% | -7.69% | -0.02B |
| 2022-09-30 | $347M | 10 | -4.93% | -4.93% | -0.00% | +0.09B |
| 2022-06-30 | $275M | 7 | -35.82% | -16.11% | -19.71% | -0.05B |